Everything You Need to Know About the Newest Bulgarian VC BrightCap

The sixth Bulgarian investment fund was closed in August this year. As the money of the other five is either mostly deployed or aimed for follow on funding in their portfolio companies, BrightCap is an interesting opportunity for new startup scene players. In addition to that the new fund launches an unusual for Bulgaria strategy. It will simultaneously invest in seed stage and take care the companies are also backed by corporates, and growth stage.

“We will try a different approach so we lower the mortality rate of the typical acceleration program. This is the reason to work alongside with big companies and take care that the startups have the opportunity to meet their potential clients from the corporate world”, Daniel Lorer, partner at BrightCap, said.

Focus on Bulgarian startups

Another interesting fact about the new fund is that the partners all have some entrepreneurial experience, hands on approach and interesting network in Israel, U.S and Switzerland. BrightCap is interested in Bulgarian companies, companies founded by Bulgarians or startups willing to be active in Bulgaria in some way.

Here is everything else one needs to know about it:

Investment capacity

€23М, opportunity to grow in one year

Public/Private capital

80-85% from European Investment Fund and JEREMIE program

15-20% LPs from Bulgaria, Israel, U.S., Switzerland; unlike the previous funds supported by EIF in this case the partners have also put their own capital in the fund